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BRIEF-Zimmer Biomet Announces Intent To Spin Off Spine And Dental Businesses

· 02/05/2021 06:38
BRIEF-Zimmer Biomet Announces Intent To Spin Off Spine And Dental Businesses

- Zimmer Biomet Holdings Inc ZBH.N:

  • ZIMMER BIOMET ANNOUNCES INTENT TO SPIN OFF SPINE AND DENTAL BUSINESSES

  • ZIMMER BIOMET HOLDINGS - SPINE AND DENTAL BUSINESSES TO COMBINE AND FORM A NEW INDEPENDENT, PUBLICLY TRADED COMPANY (NEWCO)

  • ZIMMER BIOMET HOLDINGS - BRYAN HANSON WILL CONTINUE TO LEAD ZIMMER BIOMET AS ITS PRESIDENT AND CEO

  • ZIMMER BIOMET-TRANSACTION EXPECTED TO BE ACCRETIVE TO REVENUE GROWTH BY ABOUT 50 BASIS POINTS OVER COURSE OF CO'S FIVE-YEAR STRATEGIC PLANNING PERIOD

  • DEAL EXPECTED TO EXPAND CO'S ADJUSTED EBITDA AND OPERATING MARGINS BY APPROXIMATELY 125 BASIS POINTS ON A PRO FORMA BASIS

  • ZIMMER BIOMET- NEWCO IS EXPECTED TO BENEFIT FROM FREE CASH FLOW DIVERSIFICATION AND A CAPITAL STRUCTURE SUPPORTIVE OF INNOVATION AND INVESTMENT

  • SEARCH FOR A NEWCO CEO IS IN ITS FINAL STAGES

  • J.P. MORGAN IS SERVING AS LEAD FINANCIAL ADVISOR TO ZIMMER BIOMET, WITH GUGGENHEIM SECURITIES SERVING AS FINANCIAL ADVISOR

Source text for Eikon: ID:nPn4xvHnla

Further company coverage: ZBH.N


((Reuters.Briefs@thomsonreuters.com;))